Pacific Gas & Electric Co. (NYSE:PCG) Position Reduced by Souders Financial Advisors

Souders Financial Advisors cut its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 53.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,223 shares of the utilities provider's stock after selling 71,283 shares during the quarter. Souders Financial Advisors' holdings in Pacific Gas & Electric were worth $1,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCG. Norges Bank acquired a new stake in Pacific Gas & Electric in the fourth quarter valued at $591,625,000. Capital Research Global Investors raised its position in Pacific Gas & Electric by 70.3% during the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after acquiring an additional 19,317,171 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pacific Gas & Electric by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock valued at $5,132,964,000 after purchasing an additional 6,151,233 shares in the last quarter. Zimmer Partners LP grew its position in shares of Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock valued at $255,506,000 after purchasing an additional 5,814,624 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Pacific Gas & Electric by 244.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider's stock worth $95,066,000 after purchasing an additional 3,340,599 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Trading Up 1.3%

Shares of PCG stock traded up $0.17 during trading hours on Friday, hitting $13.43. 24,510,190 shares of the company were exchanged, compared to its average volume of 18,947,394. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72. The firm has a fifty day moving average of $15.07 and a 200 day moving average of $16.13. The firm has a market cap of $35.93 billion, a PE ratio of 12.32, a PEG ratio of 1.00 and a beta of 0.55. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.79.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. Analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric's dividend payout ratio is currently 9.17%.

Insider Activity

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the transaction, the executive vice president owned 151,116 shares in the company, valued at $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

PCG has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 target price on shares of Pacific Gas & Electric in a report on Friday, April 25th. Jefferies Financial Group increased their price objective on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Evercore ISI boosted their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Morgan Stanley set a $18.00 price target on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Finally, BMO Capital Markets cut their price objective on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.73.

Pacific Gas & Electric Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.